Franklin Electric Co., Inc. $FELE Stock: ProShare Advisors LLC Grows Holdings

ProShare Advisors LLC lifted its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 40.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 99,291 shares of the industrial products company’s stock after purchasing an additional 28,585 shares during the quarter. ProShare Advisors LLC’s holdings in Franklin Electric were worth $9,521,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Root Financial Partners LLC bought a new position in Franklin Electric during the 3rd quarter worth $27,000. Trust Co. of Vermont acquired a new position in Franklin Electric during the second quarter worth about $44,000. Integrated Wealth Concepts LLC acquired a new position in Franklin Electric during the 2nd quarter worth approximately $45,000. Versant Capital Management Inc lifted its stake in shares of Franklin Electric by 66.7% in the 2nd quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 222 shares during the last quarter. Finally, Allworth Financial LP bought a new position in Franklin Electric in the second quarter valued at about $63,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $100.96 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 2.33. The business has a 50-day simple moving average of $98.30 and a two-hundred day simple moving average of $100.19. The company has a market capitalization of $4.46 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $115.82.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The firm had revenue of $633.62 million during the quarter, compared to the consensus estimate of $617.19 million. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Franklin Electric Co., Inc. will post 4.74 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.17%.

Franklin Electric News Roundup

Here are the key news stories impacting Franklin Electric this week:

• Positive Sentiment: D.A. Davidson upgraded FELE from “Neutral” to “Buy” and raised its price target to $135 from $105. The analyst cited potential growth related to AI data centers and rare earths; the upgrade was associated with a sharp rally in the shares. Franklin Electric upgraded at D.A. Davidson on AI data center, rare-earths growth
• Positive Sentiment: Zacks reported that the average analyst price target suggests 27.1% upside. It also noted that analysts’ agreement in raising earnings estimates may be a more meaningful positive signal than price targets alone. Does Franklin Electric Have the Potential to Rally?
• Negative Sentiment: WallStreetZen cut its rating on Franklin Electric to “Hold,” providing a counterpoint to D.A. Davidson’s bullish call. Franklin Electric Cut to Hold at WallStreetZen

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $130.00 price target on shares of Franklin Electric in a report on Thursday, October 29th. Weiss Ratings downgraded shares of Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. DA Davidson raised Franklin Electric from a “neutral” rating to a “buy” rating and boosted their target price for the company from $105.00 to $135.00 in a research report on Monday. Finally, Wall Street Zen downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $132.50.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.